- Total financing under the European Fund for Strategic Investments (EFSI) in Spain amounts to €12 billion and is set to trigger €58.6 billion in additional investments
Infrastructure and innovation projects
- 123 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €9.8 billion in total investment
- set to trigger €39.1 billion in investments
Small and medium enterprises (SMEs)
- 35 approved agreements with intermediary banks financed by European Investment Fund (EIF) with EFSI backing
- €2.2 million in total financing
- set to trigger approximately €19.5 billion in investments with some 167,170 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of projects supported by the Investment Plan in Spain
Ecoalf is a circular economy start-up in Spain that collects marine debris from the bottom of the sea, treats it, and converts it into thread to make clothes and accessories. Ecoalf works with 3,000 fishermen across 40 ports, collecting and transforming 250 tonnes of sea waste per year, with nearly 80% of what comes out of the sea being recycled. The company secured a loan under the Juncker Plan from its local bank, which has helped it create new jobs and seen some 80% growth.
Ilunión is Spain’s largest employer of people with disabilities, making up around 42% of its workforce. A €35 million loan from the EIB is enabling the company to build a new, fully-accessible hotel in Spain, to modernise its existing hotels, and to renovate its chain of industrial laundrettes to incorporate more energy-efficient technologies. This investment project will create 270 jobs, as well as a further 700 jobs during the construction phase.
A €50 million loan is supporting wind power firm Forestalia Renovables in its plans to build 9 new wind plants in Aragón under the Goya project. The wind farms, which will cost an estimated €300 million to construct, will have a total capacity of 300 MW, and will be located in the districts of Campo de Belchite, Daroca and Cariñena. The project will create 700 temporary jobs during the construction phase and 50 permanent jobs when it enters into service.
Exovite is a small company which has developed an innovative method for treating broken bones. The system uses the latest technologies to produce light, durable, ergonomic splints for the affected limb. Innovative software on the patient’s smart-phone enables doctors to monitor progress remotely, without the need for frequent visits to the clinic. As demand from hospitals for this treatment increased, the company – which has won numerous international awards – needed investment to scale up. It secured a loan guaranteed under the Juncker Plan and continues to grow.
The EIB is lending €40 million under the Juncker Plan to build 524 affordable and energy efficient social housing units in Navarra, creating 700 jobs in the construction phase. Average heating costs for the new homes will be €75 a year compared to €785 a year for apartments in buildings 30 years and older.